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Bharat Forge firms up after picking strategic stake in UK's Tevva Motors
13 - Jun - 2018 12:00 AM | 5 days ago
The announcement was made at the fag end of the trading session yesterday, 12 June 2018. Shares of Bharat Forge rose 0.78% to Rs 653.20 yesterday, 12 June 2018.
Meanwhile, the S&P BSE Sensex was up 129.52 points, or 0.36% to 35,822.04.
On the BSE, 30,000 shares were traded in the counter so far compared with average daily volumes of 41,000 shares in the past two weeks. The stock had hit a high of Rs 668.20 and a low of Rs 653.60 so far during the day. The stock hit a record high of Rs 799.65 on 1 March 2018. The stock hit a 52-week low of Rs 526.50 on 28 June 2017.
Bharat Forge announced a strategic investment of £10 million in Tevva Motors (Jersey) (Tevva), a company incorporated and registered under the Companies (Jersey) Law 1991 carrying out its operations from Chelmsford, UK. Tevva provides electric powertrain solutions for commercial vehicles & buses in the 7.5 -14 T weight category. This is soon to be extended for the development of new commercial vehicles, especially trucks and buses.
By virtue of this investment, Bharat Forge has also acquired a license for commercialisation of the Tevva technology within India and for strengthening its research and development activities in the e-mobility space.
The investment helps position Bharat Forge at the forefront in the fast-growing EV market to identify technology trends and co-develop solutions for electric mobility in India and abroad. Bharat Forge aims to create a range of products to complement the requirements of original equipment manufacturer (OEMs), thereby growing its revenue per vehicle.
Net profit of Bharat Forge declined 51.65% to Rs 100.33 crore on 30.29% rise in net sales to Rs 1466.61 crore in Q4 March 2018 over Q4 March 2017.
Bharat Forge is a technology driven global leader in metal forming having transcontinental presence across ten manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, rail, marine and aerospace.
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5 days ago
Bharat Forge makes strategic investment in Electric Vehicle company, Tevva Motors (Jersey)
12 - Jun - 2018 12:00 AM | 5 days ago
Bharat Forge announced a strategic investment of £ 10 million inTevva Motors (Jersey) (“Tevva”), a company incorporated and registered under the Companies (Jersey) Law 1991 carrying out its operations from Chelmsford, UK.
Tevva provides electric powertrain solutions for Commercial Vehicles & buses in the 7.5 -14 T weight category. This is soon to be extended for the development of new Commercial Vehicles, especially trucks and buses.
These vehicles actively and autonomously manage the use of the range extender by utilising Tevva's ground-breaking, patented software, Predictive Range Extender Management System (PREMS), to ensure only electric drive is used in low carbon zones and other city centers.
Bharat Forge has been working on its R & D and technology strategy in the Electric Vehicle space over the last few years. This is Bharat Forge's 3rd major initiative in the EV space, and comes shortly after the start of the 'Engineering and Development Centre' at MIRA, UK and theinvestment in Tork Motorcycles, India (an electric drivetrain company, mainly focused on electric two wheelers and/or premium electric motor cycles).
By virtue of this investment, Bharat Forge has also acquired a license for commercialisation of the Tevva technology within India and for strengthening its Research and Development activities in the e-mobility space.
The investment helps position Bharat Forge at the forefront in the fast-growing EV market to identify technology trends and co-develop solutions for electric mobility in India and abroad. Bharat Forge aims to create a range of products to complement the requirements of OEMs, thereby growing its revenue per vehicle.
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Bharat Forge Ltd gained for a third straight session today. The stock is quoting at Rs 659.25, up 1.4% on the day as on 12:59 IST on the NSE. The benchmark NIFTY is up around 1.06% on the day, quoting at 10797.9. The Sensex is at 35560.39, up 1.08%. Bharat Forge Ltd has slipped around 10.96% in last one month.
Meanwhile, Nifty Auto index of which Bharat Forge Ltd is a constituent, has slipped around 1.87% in last one month and is currently quoting at 11155.85, up 0.6% on the day. The volume in the stock stood at 3.79 lakh shares today, compared to the daily average of 11.98 lakh shares in last one month.
The benchmark June futures contract for the stock is quoting at Rs 660.5, up 1.44% on the day. Bharat Forge Ltd is up 11.26% in last one year as compared to a 11.93% spurt in NIFTY and a 2.59% spurt in the Nifty Auto index.
The PE of the stock is 38.24 based on TTM earnings ending March 18.
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25 days ago
MF shareholding in Bharat Forge Ltd has decreased by -4.3% since past 3 Months
GovT shareholding in Bharat Forge Ltd has decreased by -7.66% since past 3 Months
FII shareholding in Bharat Forge Ltd has increased by 40.69% since past 1 Year
MF shareholding in Bharat Forge Ltd has increased by 3.86% since past 1 Year
